can NRP set up a trust fund for a child?

dobbie82

having just set up a trust fund for my own children i am wondering if my friend could set one up for his child?

he pays maintenance though seems this funds her fun rather than benefit the child. he never gets the money my friend sent in cards etc and she has been known to even raid his piggy bank.

So if he set up a trust fund, the money would be there for his future, or maybe even set up a normal account for him to use that the mother has no access to. he is 13.

kelloggs36

If it is a private agreement then technically he can, but it may put her back up and she may apply to the CSA. If it is via the CSA then no, he must pay them and the money goes to the PWC to spend as they wish - to say that it goes only on the PWC is unfair - sure a PWC will be spending some money on themselves, but usually not at the expense of the children - are they fed? Do they have clothes? Do they have school uniforms? Do they live in a home? All these things cost money and I bet that the maintenance is not the only source of income - if she works, are you seriously suggesting that she cannot spend any money on herself? Maybe she has taken the money to pay bills - as much as many would not like to do such a thing I know some parents who have been so desparate as to take from their children's bank accounts to pay back at a later date. Don't judge until you know the story from both sides.

Strapped

There's nothing to stop a NRP from setting up a trust fund - so long as it's in addition to any maintenance payments

kelloggs36

Yes of course that's right, but I don't think that was the intention here.

dobbie82

yes i meant in addition, he would still pay the maintenance.

not that it makes a difference but the PWC as u put it doesnt work

Becles

My Dad has set up some sort of investments for my children that he pays in regular too. That's all I know as it's his personal wish to do that, and I said I didn't want to know how much he was saving so I too get a surprise on their 18th birthdays. All the correspondance goes to his house. Therefore I guess the NRP would be able to do the same.

The only stumbling block would be that the NRP would need the birth certificate to prove the ID of the child. If they can't get the birth certificate from the PWC, they could order a copy from the office where the child was registered though.

Strapped

That's what my hubby did to get his daughter's birth certificate. It only cost a few pounds.